The ninth minister-level summit of the World Trade Organisation (WTO) will be ‘successful’ in working out a ‘development package’ for the least developed countries (LDC), hopes the conference’s chairman Gita Wirjawan.
“I believe this ‘Bali Package’ will be of great help and will preserve the interest of the LDC countries,” said the Indonesian Commerce Minister.
Speaking to journalists from Bangladesh on Tuesday, minutes before the summit was scheduled to start, he hoped the developed and developing nations would reach to an agreement and sign deals.
It would be a ‘bad news’ for all – the developed, developing and LDC nations – if no agreement is reached.
Bearing this in mind, everyone should be mentally prepared to strike a deal, he said.
Wirjawan had served in the Indonesian embassy in Bangladesh from 1976 to 1978.
On Monday, the LDC countries agreed to take a common stand on four issues — 100 percent quota- and duty-free access of their products to developed economies, relaxation of rules of origin, reduction in cotton subsidies, and concessions in the service sector.
Gita Wirjawan and three Vice-Chairmen in a statement on Monday had urged all WTO members to agree to simplify global trade.
Source: Bd news24